Foresight Group LLP Investment in The Electric Heating Company: What it means for the Future of The Electric Heating Company
Foresight Group LLP invests £3.8 million in The Electric Heating Company. Foresight Group LLP is a leading independent infrastructure and private equity investment group headquartered in the UK. The company was founded in 1984 and has since grown to become a significant player in the European investment market. Now with 13 offices across 7 countries, Foresight is a global business with well-established local connections With a focus on sustainability and long-term value creation, Foresight Group LLP has a strong track record of delivering attractive returns to investors while making a positive impact on society and the environment.
On the 15th February 2023, Foresight announced the investment into The Electric Heating Company to accelerate the pace of expanding our product range and further develop technology, while supporting the company growth plans in the UK. EHC products support the decarbonisation of home heating by replacing traditional oil and gas fired boilers. The Electric Heating Company plans to launch the first range of Air Source Heat Pumps.
Daniel Halliday, Director at Foresight, commented: “The EHC team has built a strong, competitive position in the domestic electric heating market and has demonstrated significant growth. We are excited to support the team in delivering their future growth plans that will contribute to home decarbonisation in the UK”
The Electric Heating Company is a leading provider of electric heating solutions, offering a range of energy-efficient products that are designed to help consumers reduce their carbon emissions. With a focus on innovation and sustainability, the company has been at the forefront of the electric heating industry for nearly 20 years, developing a range of products that offer exceptional performance and reliability.
Foresights investment into EHC is a clear indication of the growing interest in the electric heating industry, and the potential for this sector to play a significant role in the transition to a low-carbon economy. With the UK government setting ambitious targets to minimise carbon emissions and tackle climate change, electric heating is set to become an increasingly important part of the solution.
Our Managing Director, Bill Walters commented: “EHC has witnessed significant growth across our established customer base. We are committed to seizing market opportunities as the UK moves towards a Net Zero Carbon future. It was important that we choose a partner with the vision and energy to assist our growth and we look forward to working with the Foresight team.”
Foresight Group LLP states that its investment will support the company’s management team with its growth plans, enabling it to create more jobs and increase the distribution reach.
Judith Hartley, CEO at British Business Investments, said: “ We are delighted to see the Foresight Scotland Fund complete its first investment, following our commitment earlier this year. The mission is to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UL’s transition to a net zero economy. This funding means EHC is well-positioned for continued growth whilst also making a meaningful impact on the decarbonisation of heat in the home.”
Comments are closed here.